NASUWT Representatives

www.nasuwt.org.uk89New entrants to the TPS, namely teachers who enter thescheme on or after 1 January 2007 with no previouspensionable service to their credit, and teachers with serviceprior to 1 January 2007 who re-entered pensionable serviceafter 31 December 2007, following a break of service of morethan five years, will be subject to the same provisions abovethat apply to existing members, except that:l NPA is 65 (although any benefits accrued before 1 January2007 would still be payable at age 60);l pension is based on an accrual rate of 1⁄60 of the finalaverage salary for each year of pensionable service with theoption of exchanging part of their pension for a tax-free lumpsum (within HMRC limits of up to 25% of their fund value);l pensions are actuarially increased for those who continue inwork beyond the NPA of 65 without drawing their pensionbenefits.From implementation of the new scheme architecture in 2015the pension scheme, for those teachers further than ten yearsfrom their NPA (there is some additional tapering protection forthose between 10 and 13 years from NPA), the scheme will offerthe following main benefits:l a pension based on career average service rather than finalsalary;l an accrual rate of 1/57th of pensionable earnings each year;l revaluation of active members’ benefits in line with CPI +1.6%;l NPA equal to state pension age for new scheme service.Further InformationNASUWT Publications:• Appraisal(PerformanceManagement) APractical Guide forAppraisers andAppraisees• NASUWT ModelPerformanceManagement Policywith Commentary forNASUWTRepresentatives(includes anobservation protocol)• PerformanceManagementChecklist (Jointlywith the NUT)• PerformanceManagementObservation Protocol(Jointly with theNUT)Further details of the full features of the new scheme can befound on the NASUWT website at www.nasuwt.org.uk.For advice and help ˚ Local Association ˚ Regional Centre ˚ National Executive